research

  Working Papers:

  1.     "Heterogeneity in Decentralized Asset Markets," with Julien Hugonnier and Pierre-Olivier Weill       
  2.    "Marketmaking with Search and Information Frictions," with Ali Shourideh, Venky Venkateswaran, and Ariel Zetlin-Jones
  3.    "Job Referrals and Skills," with David Rivers and Giorgio Topa
  4.    "Interviews and the Assignment of Workers to Jobs," with Ronald Wolthoff 
   
  Papers in Refereed Journals:

  1.   "Frictional Intermediation in Over-the-Counter Markets," with Julien Hugonnier and Pierre-Olivier Weill, accepted, Review of Economic Studies
  2.  "A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow," with Gara Afonso and Roc Armenter, Review of Economic Dynamics, 2019, 33, 177 - 204
  3.  "Screening and Adverse Selection in Frictional Markets," with Ali Shourideh, Venky Venkateswaran, and Ariel Zetlin-Jones, Journal of Political Economy, 2019, 1, 338 - 377 (online   Appendix)
  4.    "Competing with Asking Prices," with Ludo Visschers and Ronald Wolthoff, Theoretical Economics, 2017, 12, 731-770.
  5.    "Excess Reserves and Monetary Policy Implementation," with Roc ArmenterReview of Economic Dynamics, 2017, 23, 212-235.   
  6.    "Information Spillovers, Gains from Trade, and Interventions in Frozen Markets," with Braz Camargo and Teddy Kim, 2015. Review of Financial Studies, 2016, 29 (5), 1291-1329
  7.    "Competing for Order Flow in OTC Markets," with Guillaume Rocheteau and Pierre-Olivier Weill.  Journal of Money, Credit, and Banking, 2015, 47 (s2), 77-126.
  8.    "Meeting Technologies and Optimal Trading Mechanisms in Competitive Search Markets," with Ludo Visschers and Ronald Wolthoff. Journal of Economic Theory, 2015, 155, 1-15 (online Appendix)
  9.    "Trading Dynamics in Decentralized Markets with Adverse Selection," with Braz Camargo, Journal of Economic Theory, 2014, 153, 534-568.
  10.    "Information Acquisition and the Exclusion of Evidence in Trials," with Nicola Persico and Ludo Viscchers, Journal of Law, Economics, and Organization, 2012, 28 (1), 163-182.
  11.    "Information, Liquidity, Asset Prices, and Monetary Policy," with Andrew Postlewaite and Randy Wright, Review of Economic Studies, 2012, 79 (3), 1208-1238.
  12.    "Information and Liquidity," with Andrew Postlewaite and Randy Wright, Journal of Money, Credit, and Banking, 2011, 43 (s2), 355-377.
  13.    "Information and Prices with Capacity Constraints," American Economic Review, 2011, 101 (4), 1591-1600.
  14.    "Directed Search with Multi-Vacancy Firms," Journal of Economic Theory2010, 145 (6), 2108-2132.
  15.    "Settlement Systems," The B.E Journal of Macroeconomics (Contributions)2009, 9 (1), article 17.

  Papers in Non-Refereed Journals:
  1.    "Implementing Monetary Policy in a Changing Federal Funds Market," Federal Reserve Bank of Philadelphia Economic Insights2019, Q2, 15-20.
  2.    "Why Ask?  The Role of Asking Prices in Transactions," Federal Reserve Bank of Philadelphia Business Review2015, Q4, 1-4.
  3.   "Breaking the Ice: Government Interventions in Frozen Markets," Federal Reserve Bank of Philadelphia Business Review2013, Q4, 19-25.  

    
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